Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 26.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,308 shares of the company's stock after selling 48,583 shares during the quarter. Raymond James & Associates' holdings in Dropbox were worth $4,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Wedge Capital Management L L P NC lifted its stake in Dropbox by 1,287.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,725,139 shares of the company's stock valued at $74,206,000 after acquiring an additional 2,528,754 shares in the last quarter. Baupost Group LLC MA grew its position in Dropbox by 30.6% in the 1st quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company's stock worth $245,777,000 after purchasing an additional 2,476,021 shares in the last quarter. AQR Capital Management LLC increased its stake in Dropbox by 102.3% in the 1st quarter. AQR Capital Management LLC now owns 2,556,821 shares of the company's stock valued at $54,230,000 after buying an additional 1,292,761 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Dropbox by 179.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,745,670 shares of the company's stock valued at $37,741,000 after acquiring an additional 1,121,458 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Dropbox by 52.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,484,341 shares of the company's stock valued at $53,711,000 after purchasing an additional 853,829 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Dropbox Trading Down 2.1 %

Shares of NASDAQ:DBX traded down $0.50 during trading on Friday, reaching $22.99. 3,123,109 shares of the company traded hands, compared to its average volume of 3,521,789. Dropbox, Inc. has a 52-week low of $19.55 and a 52-week high of $33.43. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 2.65 and a beta of 0.71. The business's fifty day moving average is $25.52 and its 200-day moving average is $27.58.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The business had revenue of $635.00 million for the quarter, compared to analysts' expectations of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. On average, sell-side analysts predict that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DBX shares. JPMorgan Chase & Co. lowered Dropbox from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $33.00 to $30.00 in a report on Friday, February 16th. The Goldman Sachs Group cut shares of Dropbox from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $26.00 to $24.00 in a research note on Friday, February 16th. KeyCorp increased their target price on shares of Dropbox from $32.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, January 19th. Bank of America lowered shares of Dropbox from a "buy" rating to an "underperform" rating and reduced their price target for the company from $34.00 to $28.00 in a research report on Friday, February 16th. Finally, Citigroup lowered their price objective on Dropbox from $31.00 to $27.00 and set a "neutral" rating on the stock in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $29.78.

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the business's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $32.50, for a total value of $97,500.00. Following the sale, the chief financial officer now directly owns 434,761 shares of the company's stock, valued at $14,129,732.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Bart Volkmer sold 7,039 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78. Following the completion of the sale, the insider now owns 233,988 shares of the company's stock, valued at $5,620,391.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total value of $97,500.00. Following the completion of the transaction, the chief financial officer now directly owns 434,761 shares in the company, valued at $14,129,732.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,039 shares of company stock worth $4,324,757. 25.78% of the stock is currently owned by company insiders.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.